Toward the end of trading Friday, the Dow traded up 0.11% to 27,170.23 while the NASDAQ rose 1.12% to 8,330.99. The S&P also rose, gaining 0.73% to 3,025.45.
Leading and Lagging Sectors
Communication services shares climbed 3.3% on Friday. Meanwhile, top gainers in the sector included Vodafone Group Plc VOD, up 11%, and LiveXLive Media, Inc. LIVX, up 24%.
In trading on Friday, energy shares fell 0.3%.
Top Headline
Twitter, Inc. TWTR reported upbeat sales for its second quarter on Friday.
Twitter reported second-quarter earnings of 5 cents per share, which missed the analyst consensus estimate of 19 cents. When adjusted to account for tax assets from intra-entity transfers of intangible assets, Twitter's EPS comes out at 20 cents. The company reported quarterly sales of $841.381 million, which beat the analyst consensus estimate of $829.29 million.
Twitter sees third quarter sales of $815 million-$875 million versus as $869.3 million estimate. In the second quarter, Twitter said "average monetized daily active users" stood at 139 million versus a 136.3 million estimate and 122 million in the same quarter last year.
.
Equities Trading UP
Smith Micro Software, Inc. SMSI shares shot up 52% to $5.26 after the company reported better-than-expected Q2 EPS and sales results.
Shares of Solid Biosciences Inc. SLDB got a boost, shooting up 36% to $5.88 after the company announced a $60 million private placement with new and existing investors.
eHealth, Inc. EHTH shares were also up, gaining 29% to $110.14 after the company reported better-than-expected Q2 EPS and sales results. The company also raised FY19 EPS and sales guidance above analyst estimates.
Equities Trading DOWN
Neuralstem, Inc. CUR shares tumbled 37% to $2.3557 after the company priced its underwritten public offering of 2.77 million shares at $2.70 per share.
Shares of Merit Medical Systems, Inc. MMSI were down 25% to $41.03 after the company reported Q2 EPS and sales results.
Carbonite, Inc. CARB was down, falling 25% to $18.02 after the company reported worse-than-expected Q2 sales results. The company also issued Q3 sales guidance below analyst estimates and cut its FY19 EPS guidance below analyst estimates.
Commodities
In commodity news, oil traded up 0.3% to $56.18, while gold traded up 0.4% to $1,419.70.
Silver traded up 0.1% Friday to $16.415, while copper fell 0.6% to $2.6885.
Euro zone
European shares closed mixed today. The eurozone’s STOXX 600 rose 0.31%, the Spanish Ibex Index fell 0.69%, while Italy’s FTSE MIB Index dipped 0.3%. Meanwhile, the German DAX gained 0.47%, and the French CAC 40 rose 0.57% while UK shares rose 0.8%.
Economics
Despite concerns over a slowing global economy and negative impacts of the ongoing trade war with China, the U.S. grew its gross domestic product by 2.1% in the second quarter of 2019, according to the Bureau of Economic Analysis. The U.S. economy overcame falling economic growth forecasts around the world an ongoing trade war with China and more dovish commentary from the Federal Reserve and beat consensus forecasts of just 1.8% growth.
The total number of active U.S. oil rigs slipped by 3 to 776 rigs this week, Baker Hughes Inc reported.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.